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In 2018, Greg purchased an investment property in the heart of Melbourne for $150,000. He was required to pay $30,000 transfer cost in respect of
In 2018, Greg purchased an investment property in the heart of Melbourne for $150,000. He was required to pay $30,000 transfer cost in respect of the transfer of the property. He borrowed money from a bank to fund some of the purchase price and paid $25,000 in interest on the loan. He also paid $62,000 to a builder to renovate the master bedroom and driveway in the property. What's the cost base of the property?
Select one:
a.$117,000
b.$205,000
c.$267,000
d.$150,000
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